Student Loan Interest Rates About To Double?
It appears that the latest political football is the interest rate on student loans. The loan program in the news this week is the Stafford subsidized loan program. The government guarantees the repayment of these loans which are made by private lenders. In the case of the subsidized version of the Stafford, the government funds the cost of bringing the interest rate down as well. The current interest rate on these loans is 3.4% but may be doubled to 6.8% if the government interest subsidy is not renewed by July 1. The interest is paid entirely by the government while... Read more →